Global Currency Tensions Rise

Japan's Abe Calls on Central Bank to Resist Easing Moves by U.S. and Europe

By

Tatsuo Ito And

William Mallard

Updated Dec. 23, 2012 8:25 p.m. ET

TOKYO—Japan's incoming prime minister fired a volley into increasingly tense global currency markets, saying the country must defend itself against attempts by other governments to devalue their currencies by ensuring the yen weakens as well.

Shinzo Abe's call comes as others including Bank of England Gov. Mervyn King warn that the world's economic-policy makers risk becoming embroiled in currency spats that could heighten tensions...